Filed under: Motorsports, Earnings/Financials
Hispania Racing Team - Click above for high-res image gallery
Buy low, sell high. It's the most basic concept in investment. And while we can't speculate on the second part, HRT could hardly get any lower than it is now.
The Spanish team has, shall we say, "struggled" since joining the F1 grid last season. Changing drivers like most of us change underpants, Hispania has remained at the very back of the field these past two seasons, failing to score a single championship point so far. So it should come as little surprise that the struggling outfit has also been changing ownership and management almost as frequently.
HRT was founded as Campos Meta by lackluster former Minardi driver Adrian Campos, who then sold it to Spanish businessman José Ramón Carabante. He in turn brought in experienced strategist Colin Kolles on board to run the team. Having failed to advance the team, word has it that Kolles is on his way out, but not before the team is sold once again.
The new owners are a Spanish investment firm called Thesan Capital, which plans on giving the team a more Spanish flavor to match its name while - hopefully - providing the team with the resources to mount a more serious challenge.
F1 backmarker Hispania Racing Team changes hands... again originally appeared on Autoblog 5.0 on Fri, 08 Jul 2011 08:30:00 EST. Please see our terms for use of feeds.
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